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D-Mart owner Avenue Supermarts' Rs 1,870 cr IPO to be out on 8 March

Avenue Supermarts, the owner and operator of supermarket retail chain D-Mart, will come out with its Rs 1,870-crore initial public offering on 8 March.

By PTI

Saturday, February 25, 2017

Avenue Supermarts, the owner and operator of supermarket retail chain D-Mart, will come out with its Rs 1,870-crore initial public offering on 8 March.

This will be the biggest public issue since PNB Housing Finance's offering in October last year, which had garnered Rs 3,000 crore.

It will be open to public subscription on 8-10 March, according to the red herring prospectus (RHP). The funds from the IPO will be utilised towards construction and purchase of fit-outs for new stores and loan repayment.

The firm, valued at Rs 18,000 crore, is an emerging national supermarket chain, with focus on value-retailing.

The company had filed the IPO papers with markets watchdog in September and got 'observation' from the Securities and Exchange Board of India (Sebi) on December 6, a must for any company to launch the public offer.